Navigating a Commercial Fire Insurance Claim: Essential Steps for Business Owners

Fire is often one of the worst case scenarios that a Louisiana business can experience. Fire means more than property damage; it can often mean the loss of life. And even if everyone escapes the fire unharmed, there is then the prospect of an extended interruption to the business itself, which can add thousands–even millions–in losses to what the fire destroyed outright.

Commercial fire insurance is, therefore, a must-have for any business, but navigating a commercial fire insurance claim involves more than simply calling up your insurance company and waiting for them to take care of everything. As a business owner, you need to be proactive.

Here are a few key tips for dealing with a fire insurance claim:

Document All Damage

No insurance company–and especially no commercial fire insurance company–is going to just take your word with respect to your losses. You need to document everything. More precisely, you need to document everything the fire damages, either indirectly or directly. This includes:

• Structural Damage: Fire does more than incinerate; the heat can also cause materials inside the building to buckle, warp, crack, or melt. This can lead to significant structural damage that can render the building a total loss, even if it initially appeared to survive the fire.
• Fire Suppression Damage: It is not just the fire that can damage a commercial property. The various chemicals used in fire suppression can also lead to additional losses, even to items that were not burned in the fire.
• Smoke Damage: Soot damage to walls and floors pose a serious health hazard. Many particles left in the wake of a fire are cancerous or otherwise harmful to human health. Employees and others who escaped from the fire may have breathed in these particles while escaping.

Document Your Business Losses

Many business owners fail to realize just how costly a fire is until they experience one. Depending on the nature and size of your business, a fire can make it impossible to resume any semblance of normal operations for days, weeks, or even months. All such business interruption losses need to be documented for your commercial fire insurance company.

Carefully Review–and Follow–Your Commercial Fire Insurance Policy

An insurance policy is a contract between your business and the insurer, and the insurer will expect you to strictly adhere to the terms of that policy in the event of a fire. Remember, the insurance company will think nothing of denying your claim if you failed to live up to your end of the bargain. With that in mind, you need to carefully review your policy–preferably with a qualified attorney–and make sure that you and your employees understand and meet any requirements.

Contact a New Orleans Fire Damage Lawyer

A fire does not have to mean the end of your business. The first step to getting back on your feet is to make sure you receive the full benefit allowed under your commercial fire insurance policy. Our New Orleans fire damage lawyer can help. Contact Insurance Claim HQ today to schedule a consultation.